Magnetar Financial LLC Invests $690,000 in Terex Co. (NYSE:TEX)

Magnetar Financial LLC acquired a new stake in Terex Co. (NYSE:TEX - Free Report) in the fourth quarter, according to its most recent filing with the SEC. The fund acquired 14,935 shares of the industrial products company's stock, valued at approximately $690,000.

A number of other hedge funds have also bought and sold shares of TEX. Advisors Asset Management Inc. grew its position in shares of Terex by 8.8% in the third quarter. Advisors Asset Management Inc. now owns 57,056 shares of the industrial products company's stock valued at $3,019,000 after purchasing an additional 4,633 shares in the last quarter. Moran Wealth Management LLC boosted its stake in Terex by 2.7% in the 3rd quarter. Moran Wealth Management LLC now owns 45,339 shares of the industrial products company's stock worth $2,399,000 after purchasing an additional 1,209 shares during the period. Intech Investment Management LLC grew its holdings in Terex by 487.9% during the 3rd quarter. Intech Investment Management LLC now owns 28,037 shares of the industrial products company's stock valued at $1,483,000 after buying an additional 23,268 shares in the last quarter. Landscape Capital Management L.L.C. bought a new stake in shares of Terex during the third quarter valued at about $457,000. Finally, Foundry Partners LLC purchased a new stake in shares of Terex in the third quarter worth about $3,881,000. 92.88% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. The Goldman Sachs Group decreased their target price on shares of Terex from $60.00 to $52.00 and set a "neutral" rating on the stock in a report on Wednesday, March 19th. JPMorgan Chase & Co. lowered their price objective on Terex from $51.00 to $48.00 and set a "neutral" rating on the stock in a research report on Tuesday, March 18th. Truist Financial reduced their target price on Terex from $65.00 to $58.00 and set a "buy" rating for the company in a research report on Thursday, December 19th. Evercore ISI lowered their price target on Terex from $63.00 to $59.00 and set an "outperform" rating on the stock in a report on Wednesday, February 19th. Finally, StockNews.com lowered shares of Terex from a "hold" rating to a "sell" rating in a research report on Friday, February 7th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $54.22.

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Terex Price Performance

Shares of TEX stock traded down $0.07 during trading hours on Wednesday, hitting $40.38. 673,702 shares of the company's stock were exchanged, compared to its average volume of 843,309. Terex Co. has a 12-month low of $36.15 and a 12-month high of $68.08. The company has a market capitalization of $2.68 billion, a PE ratio of 8.14, a PEG ratio of 4.53 and a beta of 1.56. The business's 50 day simple moving average is $43.90 and its 200-day simple moving average is $48.74. The company has a current ratio of 2.16, a quick ratio of 1.09 and a debt-to-equity ratio of 1.41.

Terex (NYSE:TEX - Get Free Report) last issued its earnings results on Thursday, February 6th. The industrial products company reported $0.77 EPS for the quarter, topping the consensus estimate of $0.76 by $0.01. Terex had a net margin of 6.54% and a return on equity of 21.99%. During the same period in the prior year, the business earned $1.88 EPS. On average, equities research analysts anticipate that Terex Co. will post 4.83 earnings per share for the current year.

Terex Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Friday, March 7th were issued a dividend of $0.17 per share. The ex-dividend date was Friday, March 7th. This represents a $0.68 dividend on an annualized basis and a yield of 1.68%. Terex's dividend payout ratio is presently 13.71%.

Insider Buying and Selling at Terex

In related news, Director Andra Rush purchased 1,325 shares of the business's stock in a transaction that occurred on Tuesday, March 4th. The shares were acquired at an average price of $36.96 per share, for a total transaction of $48,972.00. Following the completion of the acquisition, the director now directly owns 23,308 shares in the company, valued at approximately $861,463.68. The trade was a 6.03 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.90% of the stock is currently owned by corporate insiders.

About Terex

Terex Corporation manufactures and sells aerial work platforms and materials processing machinery worldwide. It operates in two segments, Materials Processing (MP) and Aerial Work Platforms (AWP). The MP segment designs, manufactures, services, and markets materials processing and specialty equipment, includes crushers, washing systems, screens, trommels, apron feeders, material handlers, pick and carry cranes, rough terrain cranes, tower cranes, wood processing, biomass and recycling equipment, concrete mixer trucks and concrete pavers, conveyors, and related components and replacement parts under the Terex, Powerscreen, Fuchs, EvoQuip, Canica, Cedarapids, CBI, Simplicity, Franna, Terex Ecotec, Finlay, ProAll, ZenRobotics, Terex Washing Systems, Terex MPS, Terex Jaques, Terex Advance, ProStack, Terex Bid-Well, MDS, and Terex Recycling Systems brands.